NMDC Once Again Registers an Impressive Performance for 3rd Quarter FY19

Deepthi | Myequity news | Date : 01-02-2019 11:45:00 IST

NMDC has registered once again an impressive performance for the 3rd quarter (2018-19). NMDC's turnover for the third quarter 2018-19 is Rs.3,649 crore, against Rs.2,469 crore, in 2017- 18 (03) registering growth of 48%. Profit Before Tax (PBT) is Rs.2,211 crore against Rs.1,377 crore in 2017-18 (03) registering growth of 61%. Profit After Tax (PAT) is Rs.1,577 crore against Rs.887 crore in 2017-18 (03) registering growth of 78%. The 3rd quarter results for 2018-19 were approved by the Board of Directors of the Company under the Chairmanship of Shri N. Baijendra Kumar, IAS in its meeting held on 31 .01 .2019.

The Company's production of iron ore for the third quarter 2018-19 is 9.54 Million Tonnes (MT) and sales of iron ore is 8.70 MT.

Recently, NMDC Board has approved buyback of 10,20,40,815 equity shares of Re.1/- each @Rs.98 per share for an aggregate consideration not exceeding Rs.1,000 crore. The company has already initiated the process of buyback.

MAJOR HIGHLIGHTS


•Turnover up (9 months) by 10% to Rs.8,509 Cr as against Rs.7,732 Cr during CPLY

•Profit Before Tax (9 months) up by 19% to Rs.5,001 Cr as against Rs.4,187 Cr during CPLY


•Profit After Tax (9 months) up by 18% to Rs.3,188 Cr as against Rs.2,700 Cr during CPLY

•Earning Per Share (9 months) gone upto Rs.10.08 as against Rs.8.53 during CPLY

Congratulating all the employees and Board Members, Shri Kumar said NMDC could achieve these encouraging results inspite of challenges faced by the company at Donimalai Sector in Karnataka and evacuation challenge at Bailadila Sector in Chhattisgarh. These inspired efforts of team NMDC would help in overcoming the adverse conditions and ensure that the company would certainly exceed the targets in future also.


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